Profitable to Rent out Carport for Additional Rental Income?

[Thomas Shepard]

My house has a covered carport that is about 12' x 20' that could easily fit a large vehicle or a small-medium RV and I'm considering if there is an opportunity to rent it out for rental income. The house is in the CA Bay Area where real estate is very expensive and I could see how people could want to safely park their vehicle for a monthly fee. I own the house, which is my personal residence.

Has anyone ever heard of this being done? What could the monthly rent look like? Any other thoughts are appreciated.

[Joseph Firmin]

Hi @Thomas Shepard! Great thought, with the recent law change, you could turn it into an ADU and create a studio apartment out of it and get some great income. You would probably make your money back (invested in the conversion of the carport to an actual studio apt) very quickly. I imagine in your market that someone would value parking, but probably value shelter more. Good luck, sounds like you have a good income stream on your hands!